This confirmation of going ahead with Phase 3 trial for PMS is very positive. As some were speculating FDA might require an additional Phase 2B before the Phase 3 trial. Obviously that was wrong, probably was spread by the shorters, imo.
Taylor recently bought 502k at average price of $14.478.
Buy back should resume in three weeks.
As today's announcement, NEU has just received a PRE payment of US$50m (~A$80m), plus further milestone payment of US$50m to receive this quarter, NEU's cash position will be around $360m, less estimated income tax provision for the US$100m milestone payments, of around $30m, thus, net cash position after income tax provision, is still around $330m. I speculate the board might declare maiden dividend, or increase buyback size.
ALL imo.
NEU Price at posting:
$13.98 Sentiment: Buy Disclosure: Held
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